FMC cuts earnings guidance as ag weakness continues

12:07 PM MDT | June 27, 2014 | Vincent Valk

FMC announced today it is cutting its second-quarter and full-year earnings guidances, to 95 cts–$1.05/share and $4.10–4.30/share, respectively. The decreases are about 9.1% for the second-quarter guidance and about 5.6% for the full-year guidance. The cuts are due to persistent weakness in the company’s agricultural solutions segment, which is now expected to increase revenue and earnings increases by “mid-single digits,” the company says. The ag weakness is mostly due to cold weather in North America and drought conditions in...